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(ICIS) -- Asia methyl tertiary butyl ether
(MTBE) price is expected to continue on an uptrend after crossing the
$1,000/tonne (?730/tonne) mark this week, due to the global oil rally and strong
demand for the octane booster, traders said on Thursday.
MTBE prices were assessed as $1,000-1,020/tonne FOB (free on board)
Singapore on Wednesday’s close, the highest since 5 September 2008, ICIS data
showed. Prices could scale higher amid surging global crude futures, a trader
said.
Heightened tension in Libya, which supplies 2% of the global oil
production, is sending jitters across global markets - energy, commodities and
stocks - with U.S. crude futures hitting a two-and-a-half year high on
Wednesday.
Meanwhile, artificially capped pump prices in China created a difficult
situation for the domestic Chinese MTBE market, traders said.
mrcplast.com
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